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Daily Market Review – 28/06/16

The broad markets continued to roil on Monday and most Indices turned in poor performances. Equities were not the only assets Can be stocks, commodities, indexes or Forex currency pairs. More under pressure and FX continued to see safe haven currencies such as the USD The USD The USD is the official currency of the United States of America. It is the largest reserve currency... More is the official currency of the United States of America. It is the largest reserve currency... More and JPY The official currency of Japan is the JPY The official currency of Japan is the JPY which is also knows as the Japanese Yen The official currency of Japan is the JPY which is also knows as the Japanese Yen The official currency of Japan is the JPY which is also knows as the Japanese Yen to investors and t... More to investors and t... More to investors and t... More which is also knows as the Japanese Yen to investors and t... More find takers. Gold also turned in another positive day of trading. Other commodities were not as lucky as Crude Oil continued to find renewed pressures downward.

ECB The European Central Bank The European Central Bank, ECB The European Central Bank, ECB, is the Central Bank of the European Union and sets the monetary poli... More , is the Central Bank of the European Union and sets the monetary poli... More , ECB, is the Central Bank of the European Union and sets the monetary poli... More President Mario Draghi spoke on Monday without any earth shattering pronouncements except to say that he was very disappointed in the outcome of the Brexit vote. The U.S. today will issue Final GDP results for the quarter and the expectation is a lacklustre 1.0% gain. It should be noted that on Friday the Core Durable Goods Orders and the broad statistics were bad from the States, which will certainly not be welcome news for the Fed The Federal Reserve The Federal Reserve is the Central Bank of the United States of America and sets the monetary policy When used by traders and investors monetary policy When used by traders and investors monetary policy When used by traders and investors monetary policy usually refers to Central Bank policy concerning ... More usually refers to Central Bank policy concerning ... More usually refers to Central Bank policy concerning ... More ... More is the Central Bank of the United States of America and sets the monetary policy... More .

While no one may have been paying attention to the Durable Goods Orders outcome last Friday, today’s GDP numbers will be of interest for Federal Reserve The Federal Reserve The Federal Reserve is the Central Bank of the United States of America and sets the monetary policy... More is the Central Bank of the United States of America and sets the monetary policy... More watchers. Sentiment is rapidly changing regarding all Central Banks as they come under an immense amount of pressure due to the ramifications of the Brexit vote, and the negotiations that will have to take place to make sure a working foundation can be maintained and new agreements can be created to assure political and economic stability for all.

The GBP The GBP The GBP is the official currency of the United Kingdom. The GBP is a major currency and currently ra... More is the official currency of the United Kingdom. The GBP is a major currency and currently ra... More and EUR The EUR The EUR is the official currency of the European Union. Presently 19 out of the 28 collective  nati... More is the official currency of the European Union. Presently 19 out of the 28 collective  nati... More have found some stability this morning in early trading from Asia. Both currencies were under pressure most of Monday with Sterling The GBP is the official currency of the United Kingdom. The GBP is a major currency and currently ra... More continuing to take the biggest hits. Short-term traders who have the fortitude to trade the GBP will need to accept that its values are under a vast amount of scrutiny and variety of opinions.

The EU Economic Summit will be getting underway today in Brussels without the UK having a place at the table and it is certain that plenty of comments will be made by public officials. It would be wise for politicians not to fan the flames regarding their disdain too much because investors are still nervous. The EUR has many questions surrounding it too at this juncture and the Single Currency The EUR is the official currency of the European Union. Presently 19 out of the 28 collective  nati... More could use some emotional support When investors and traders use the term support When investors and traders use the term support When investors and traders use the term support, or support level, they are often speaking about a p... More , or support level, they are often speaking about a p... More , or support level, they are often speaking about a p... More from its backers, meaning that it is also vulnerable and will face tribulations and tests of its value all summer.

U.S. stock markets like its counterparts have been in decline. The Brexit is certainly a large reason for this, but it is also an excuse. Economic data from the States has not been good and from the corporate front it has been equally disappointing. Many assets Can be stocks, commodities, indexes or Forex currency pairs. More have been oversold, but investors will need patience to find assets Can be stocks, commodities, indexes or Forex currency pairs. More they believe are worthy for long-term positions.

EUR/USD chart this morning approximately 7:00 GMT, 28 June 2016

EUR/USD chart this morning approximately 7:00 GMT, 28 June 2016